… That vision has helped them reach a combined GDP of more than $2tn – or approximately 40 per cent of Latin America’s combined total – earning the Pacific Alliance a place among the world’s 10 largest economies.
Yonhap News Agency
South Korea's parliament on Tuesday ratified the country's free trade agreement (FTA) with Colombia Tuesday, over one year after the deal was signed.
McClatchy-Tribune Information Services
The Colombian-American Chamber of Commerce in South Florida is organizing a business mission May 27-30 to encourage imports and exports with Medellin, Colombia's second-largest city and home to some 2.4 million people.
Latin American Herald Tribune
People with a certain degree of auditory dysfunction can now communicate without an interpreter thanks to software developed in Colombia that combines 44,000 words in Spanish with pictures, sound and videos.
Tropical and sultry, its candy-colored colonial houses draped with bougainvillea and its plazas buzzing with fruit vendors and flamboyantly costumed dancers, Cartagena carries a heady whiff of the exotic. Days move to a slower rhythm, while nights are electric with possibility. Horses pull carriages over cobblestone streets, and musicians amble across plazas. It’s worlds away from home.
Colombia's economy could grow around 5 percent in 2014, President Juan Manuel Santos said on Monday, more than the official government target of 4.7 percent and above last year's 4.3 percent expansion. "We're going quickly and I hope that if this pace keeps up, the growth figure this year will be around 5 percent," Santos told reporters while commenting on data published on Monday that showed a 2.8 percent pick-up in industrial production in February versus a year earlier and 6.7 percent rise in retail sales.
… Chicago-based consulting firm A.T. Kearney is predicting the next generation of global cities, based on the speed with which they are catching up to world capitals. The "Emerging Cities Outlook," released Monday, analyzed 34 cities in low- and middle-income countries, measuring development in business activity, innovation and ability to attract people to live there. … Bogota is progressing rapidly toward leading cities in human capital because of improvements in security and stability, respect for the environment and health care, the report says.
Few cities have gone from bust to boom the way Bogota has.
Fitch Ratings expects stable growth for the Colombian telecommunications sector over the medium term, given the favorable macroeconomic environment and rising revenues from Internet data traffic. Fitch forecasts that mobile data revenues will continue to increase, representing about 25% of total revenues by 2017, driven by rising smartphone penetration and the rollout of the 4G long-term evolution (LTE) services.
Oil & Gas Journal
GeoPark Ltd. reported the successful drilling and testing of the Aruco 1 exploration well on the Llanos Block 34 in the central Llanos basin in Colombia.
Colombia's tax revenue in the first quarter of 2014 rose 19 percent from the same period last year to 27.35 trillion pesos ($14.24 billion), Finance Minister Mauricio Cardenas said on Tuesday, helped by higher rates of employment and consumption. The Andean nation's economy grew 4.3 percent in 2013, one of the fastest rates in Latin America.
The World Bank
The World Bank Board of Directors approved a US$200 million loan today to continue to support the Colombian Institute for Educational Credit and Technical Studies Abroad (ICETEX, in Spanish) and to finance access to higher education for close to 206,000 students from low income families, including native persons, Afro-Colombians and victims of violence.
The four pension funds that operate in Colombia will invest $12.7 billion in road infrastructure projects over the next seven years, the president of the Colombian pension funds association said on Wednesday.
… Bogota has a charming historic center. In La Candelaria the streets are cobblestoned and buildings brightly colored, both from colonial tradition and from a growing street art scene.